Calumet, Inc. (NASDAQ:CLMT) Stock Has Consensus Price Target of $51.75 According to Analysts

Shares of Calumet, Inc. (NASDAQ:CLMT) have earned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $51.75.

A number of research firms recently commented on CLMT. HC Wainwright lifted their price objective on Calumet from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Calumet in a report on Friday, August 7th. The Goldman Sachs Group raised their price target on shares of Calumet from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. TD Cowen boosted their price objective on shares of Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Finally, UBS Group upped their price objective on shares of Calumet from $26.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Islay Capital Management LLC purchased a new stake in shares of Calumet in the fourth quarter valued at $25,000. Nykredit A S acquired a new stake in Calumet in the 2nd quarter worth about $57,000. Global Retirement Partners LLC acquired a new stake in Calumet in the 2nd quarter worth about $61,000. KBC Group NV purchased a new stake in Calumet in the 1st quarter valued at about $69,000. Finally, Quantbot Technologies LP purchased a new stake in Calumet in the 2nd quarter valued at about $89,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Calumet Stock Performance

CLMT stock opened at $53.23 on Friday. The stock’s 50 day moving average price is $49.46 and its 200 day moving average price is $39.47. The firm has a market cap of $4.68 billion, a P/E ratio of -34.34 and a beta of 0.72. Calumet has a 1 year low of $17.42 and a 1 year high of $59.87.

Calumet (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($1.16). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm earned ($1.70) earnings per share. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. On average, research analysts predict that Calumet will post 0.76 earnings per share for the current year.

Calumet Company Profile

Calumet, formally Calumet Specialty Products Partners, L.P., is a producer of specialty hydrocarbon products and renewable fuels. The company supplies products used in transportation, industrial, commercial and consumer applications, with an emphasis on products that are tailored to specific performance requirements rather than sold solely as commodity fuels.

Its product portfolio includes lubricating oils and additives, solvents, waxes, asphalt and other specialty products, as well as gasoline, diesel and other fuel products.